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February 2020

Greetings,
You are receiving this newsletter with hopes that you find it informative and entertaining.

If you are thinking of making a move, or just curious about the real estate trend in your area, please feel free to contact us any time. It is our pleasure to help you.

Best regards,
Lyle Longridge

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OSFI seeks comments on proposed new benchmark rate for qualifying uninsured mortgages!
Today the Office of the Superintendent of Financial Institutions (OSFI) announced that it is considering a new benchmark rate for determining the minimum qualifying rate for uninsured mortgages.
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What you need to know about strata insurance rate increases
Strata owners in BC are facing insurance rate increases of between 50 and 300 per cent this year, according to the Condominium Home Owners Association of BC.
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B.C. condo owners face huge bills from massive strata insurance rate hikes
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FRASER VALLEY MARKET UPDATE VIDEO
January’s property sales in the Fraser Valley came in 6 per cent above the 10-year average for the month, while new listings finished 11 per cent below historical norms.
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METRO VANCOUVER MARKET UPDATE VIDEO
Home sale and price activity remained steady in Metro Vancouver to start 2020 while home listing activity declined in January.
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Fraser Valley stats package data confirm January home sales typical; new listings lagging
January’s property sales in the Fraser Valley came in 6 per cent above the 10-year average for the month, while new listings finished 11 per cent below historical norms.
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Latest stats package data from REBGV confirms Home sale activity up, supply down to start 2020!
Home sale and price activity remained steady in Metro Vancouver to start 2020 while home listing activity declined in January.
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Market Watch - 2020 Opens With a Slight Gain in Sales
We started 2020 where 2019 left off, with very strong growth in the number of sales up against a continued dip in the number of new and available listings. Tighter market conditions compared to a year ago resulted in much stronger growth in average selling prices. Steady population growth, low unemployment and low borrowing costs continued to underpin substantial competition between buyers in all major market segments.
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Are You Ready for RRSP Season?
RRSP season is upon us! Time to go through the couch covers and scrounge up the last of our savings to make that all-important contribution. Let’s look at some fundamental concepts of RRSPs.
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Design Ideas for Building a Garden Fence
A garden fence is probably the most important element of garden design. The more the fence looks attractive and welcoming the more you and your guests will feel comfortable. In some ways, a garden will appear incomplete without a fence. A garden fence not only adds to the overall beauty of the garden but also gives the entire landscape a more complete look. A fence can be erected around the front yard, backyard or around the entirety of the property. Adequate fencing adds to the security of your house and property as well.
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Is an Open House Worth the Effort?
Open houses require a lot of preparation and are inconvenient to the home occupants and the selling agent. Many agents now refuse to hold open houses, considering them a waste of time and a security threat. And many sellers prefer to open their doors to serious buyers only.
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Choosing The Right Neighbourhood
Whether buying or renting, you should be choosy about the neighbourhood you move into. And if you have a family, there are even more factors to consider. So before you move, research your options; get to know the area, spend some time on its streets, in its cafes and walk along its sidewalks. Just like any relationship, feel it out before you move just to make sure it's a good fit.
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Compliments of
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Lyle Longridge
Associate Broker/Realtor
RE/MAX CREST
lyle@lylelongridge.com
Cell : 604-812-4076

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Know what I want?

More great clients like you! Your referrals are always appreciated.

Lyle Longridge
Realtor/Associate Broker
Longridge Real Estate @ RE/MAX CREST
#1-5050 Kingsway
Burnaby, BC, V5H 4C2

Email us: lyle@lylelongridge.com
Call us : 604-812-4076

 

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